Briggs & Stratton Corp. Reaffirms FY 2012 Guidance

Briggs & Stratton Corp. announced that for fiscal 2012, it has revised its guidance to include the restructuring actions. Including $45 million to $50 million of pre-tax charges ($27 million to $30 million after taxes) related to the restructuring activities, consolidated net income is expected to be in the range of $28 million to $41 million or $0.55 to $0.81 per diluted share prior to the potential impact of any share repurchases under the Company's previously announced share repurchase program. Excluding the restructuring actions, consolidated net income is expected to be in the range of $58 million to $68 million, or $1.15 to $1.35 per diluted share. Consolidated net sales for fiscal 2012 are projected to be higher than fiscal 2011 by approximately 4% to 6% depending on the level of recovery of consumer spending within the outdoor power equipment category. Engines Segment sales are forecasted to be comparable to fiscal 2011 on lower volume and improved pricing while the Products Segment sales are forecasted higher primarily due to higher volumes of lawn and garden equipment, pressure washers, and portable and standby generators. The Company reported revenues of $2.110 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report net income of $93.76 million, EPS of $0.91 on revenue of $722.28 million for fiscal 2012.